Proprietary research and reporting from BankruptcyData

October 1, 2018 – In a development first reported by the Wall Street Journal, two of the private equity owners of Toys “R” Us Inc. are considering a $20 million fund from which thousands of former employees of the bankrupt retailer would receive some form of severance payment. According to a person close to ongoing…

October 1, 2018 – Gibson Brands filed a Fifth Amended Joint Chapter 11 Plan of Reorganization [Docket No. 842] and a related memorandum of law in support [Docket No. 850]. The Court documents and the memorandum explains, “This is a single Plan for all of the Debtors with respect to the classification, treatment and voting…

October 1, 2018 – Verity Health System of California requested a Court order that would (i) approve the form of its Asset Purchase Agreement (the “Stalking Horse APA”) which designates Santa Clara County as the stalking horse bidder for two hospitals in Santa Clara County (ie Saint Louise Medical Center and O’Connor Medical Center, collectively,…

October 1, 2018 – The Court hearing the Brookstone case issued an order approving the Debtors’ sale of real property in Merrimack, NH for $6.1 million [Docket No. 475]. The bid submitted by Brady Sullivan Properties, LLC, was determined to be the Successful Bid for the real property located at One Innovation Way, Merrimack, New…

September 28, 2018 – The U.S. Trustee assigned to the Thornburg Mortgage case requested Court approval of a settlement between the U.S. Trustee and RBS Defendants [Docket No. 2736]. The Trustee explains, “On April 30, 2011, the Trustee filed a Complaint (as amended on June 8, 2011) against the RBS Defendants and JPMorgan Chase Funding…

September 28, 2018 – Claire’s Stores filed with the U.S. Bankruptcy Court a monthly operating report for the period of August 5, 2018 through September 1, 2018 [Docket No. 1058]. For the period, the consolidated Debtors reported operating income of $10.7 million and a net loss of $277,814 on $119.8 million in net sales. The…

September 28, 2018 – The Court hearing the RM Holdco case approved the sale of substantially all of the Debtors’ assets to FM Restaurants (PT) LLC, an affiliate of Z Capital Group [Docket No. 288]. As previously reported [Docket No. 15], “On July 20, 2018, the Debtors and their advisors conducted a live, telephonic auction…

About Bankrupt Company News

The bankruptcompanynews.com blog is a service of New Generation Research, Inc., a leading provider of news, data and information on bankrupt and distressed companies. Through its BankruptcyData, Bankruptcy Week, Distressed Company Alert and The Turnaround Letter offerings, New Generation Research helps its subscribers identify, monitor, research and invest in bankrupt and distressed companies.